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Eurex EnLight

Eurex EnLight

Eurex took another strategic step to further enhance its market structure by applying its core competences around transparency and process efficiencies to the over-the-counter market.

Eurex further expands and enhances its existing market structure with the electronic price discovery service Eurex EnLight that allows banks and brokers to selectively contact Market Makers with requests for quotes in order to find a trading counterparty. Orders are then automatically transmitted to Eurex’ T7 Entry Service for exchange trade confirmation and post-trade processing.

From 19 June 2018, Eurex EnLight covers Swiss equity and equity index derivatives on top of the current fixed income products suite.

The fully automated solution replicates the core aspects of the voice business, while affording its users all the advantages of automatic electronic data collection and timely retrieval of all this information to meet Best Execution requirements. The increased electronification of the off-book business ultimately improves overall market liquidity and increases structural diversity.

Key benefits

Effective technology to assist members with their MiFID II compliance obligationsEurex EnLight addresses member limitations around current price discovery processes and assists members to comply with MiFIDII/MiFIR associated increased obligations, specifically around Best Execution.

Increased market efficiencyThe new platform addresses the inherent inefficiencies and problems around coping with large, more complex strategies, while reducing the time-to-market of price discovery. It allows for improved intelligence capabilities via collection and analysis of price formation data.

Improved compliance controlsFully electronic platform with comprehensive audit trail functionality. Analysis of available data facilitates more informed decisions around quoting and the selection of counterparties.

A new way to source liquidityCombination of electronification and process efficiencies will deepen liquidity in complex, large orders.

Built on proven technologyFully electronic price discovery platform developed in Eurex Exchange’s T7 trading architecture, with the ability to record and then present data via its reporting tools.

With Eurex EnLight, the exchange is venturing into a new realm – beyond regular order book-based exchange trading. It is taking a step that might become a blueprint for Deutsche Börse Group’s other trading sectors. Read more how Eurex has taken MiFID II as an opportunity that goes far beyond solving regulatory issues.

Watch TABB Group and Eurex Exchange for this complimentary webinar as we explore how market conditions and regulatory mandates are combining to drive the electronification of fixed-income derivatives markets. This webinar will explore how market conditions and regulatory mandates will combine to drive the electronification of most fixed income derivatives markets.

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